WHAT ARE THE DISTINGUISH BETWEEN ACCOUNTS RECEIVABLE AND
ACCOUNTS PAYABLE
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Answer Posted / h.r. sreepada bhagi
Accounts Receivable is nothing but the money receivable form
Customers. It's also shown as Sundry Debtors under Current
Assets, Loans & Advances in the Balance Sheet.
Accounts Payable is nothing but the money payable to
Creditors/Vendors. It's also shown as Sundry Creditors under
Current Liabilities & Provisions in the Balance Sheet.
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